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Private equity-backed GrubHub prices IPO at $20 to $22

24 Mar 2014

shares stocks IPODelivery service GrubHub will price its IPO at between $20 and $22 per share to raise up to $155m.

The company, which is backed by private equity firms Warburg Pincus, Benchmark Capital, Thomas H Lee Partners, CCMP and Spectrum Equity, plans to sell 4m shares, while its shareholders will dispose of 3.03m shares.

GrubHub would be valued at over $1.7bn at the top end of the indicative range.

The company operated 28,000 and had 3.4m active used at the end of last year, which saw its profits drop to $6.8m from $7.9m despite a 67 per cent surge in revenues to over $317m.

Earlier this month GrubHub filed to raise $100m via an IPO on the New York Stock Exchange.

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